Download CBSE Class 11 Business Administration Business Environment Notes in PDF format. All Revision notes for Class 11 Other Subjects have been designed as per the latest syllabus and updated chapters given in your textbook for Other Subjects in Class 11. Our teachers have designed these concept notes for the benefit of Class 11 students. You should use these chapter wise notes for revision on daily basis. These study notes can also be used for learning each chapter and its important and difficult topics or revision just before your exams to help you get better scores in upcoming examinations, You can also use Printable notes for Class 11 Other Subjects for faster revision of difficult topics and get higher rank. After reading these notes also refer to MCQ questions for Class 11 Other Subjects given on studiestoday
Revision Notes for Class 11 Other Subjects Business Environment
Class 11 Other Subjects students should refer to the following concepts and notes for Business Environment in Class 11. These exam notes for Class 11 Other Subjects will be very useful for upcoming class tests and examinations and help you to score good marks
Business Environment Notes Class 11 Other Subjects
BUSINESS ENVIRONMENT
COMPONENTS OF BUSINESS ENVIRONMENT
2. MEANING OF BUSINESS ENVIRONMENT
To begin with let's understand the meaning of business environment. We live in the world which is completely dynamic. Rapid changes keep taking place and are frequent because of the changes in social, political and economic environment.
These changes occur because of the advancement in technology
so the new ideas for a better society enriched with high standard of living
demands the business to be adjustable to these changes and it demands the business to be very flexible to provide the right thing at right price at right time.
But the thing should be of high quality to ensure customer satisfaction.
So, these changes surround the business enterprise and influence it in various aspects.
A business organization is successful only when it quickly adapts itself to these changes. As per Keith Davis "Business Environment is the aggregate of all conditions, events and influences that surround and affect the business" It means that all the happening in the surroundings of the business, affect it. So it is important for the business to identify and understand these changes and change the business strategies accordingly. In the words of Bayard O. Wheeler "business environment is the total of all things external to business firms and industries which affect their organization and operations"
And In the words of Dunham and Pierce "business environment represents a set of conditions, circumstances and influences that surround and affect the functioning of the organization. This environment is made up of different individuals (like customers, local citizens etc); organizations (like suppliers, labor unions) and government bodies (like regulatory agencies, legislators etc.)"
Both the definitions highlight on the external factors affecting the business. The operations of the business enterprises are highly affected by the external environmental factors. Customers, suppliers, labor unions and government bodies form the business environment.
3. CURRENT INDIAN BUSINESS ENVIRONMENT
Before the Indian industrial policy of 1991, more about the current and more control of commerce and trade was in the hand of public sector. Lot of problems like bureaucracy and red tapism resulted in formation of Industrial policy of 1991 which emphasized on Liberalization, Privatization and Globalization. Before the year 1991 India was hit by economic crisis and accelerated growth of economy was required.
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CBSE Class 11 Other Subjects Business Environment Notes
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Notes for Other Subjects CBSE Class 11 Business Environment
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Business Environment Notes for Other Subjects CBSE Class 11
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Business Environment CBSE Class 11 Other Subjects Notes
Regular notes reading helps to build a more comprehensive understanding of Business Environment concepts. notes play a crucial role in understanding Business Environment in CBSE Class 11. Students can download all the notes, worksheets, assignments, and practice papers of the same chapter in Class 11 Other Subjects in Pdf format. You can print them or read them online on your computer or mobile.
Notes for CBSE Other Subjects Class 11 Business Environment
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